Boxship charter rates continue to soar, with a 7,000-teu vessel fetching $150,000 per day for a short charter with AP Moller-Maersk.
The Danish operator is taking the 7,092-teu newbuilding Kota Valparaiso (built 2024) as a sublet from Singapore’s Pacific International Lines for a short three-month fixture at $150,000 per day.
That is a remarkable 50% increase in the two weeks since the fixture of the sister vessel.
French liner operator CMA CGM took the 7,092-teu Kota Callao (built 2024) earlier this month for a similar period at around $105,000 per day.
The two vessels belong to a series of six ships being built in China at Shanghai Waigaoqiao Shipbuilding for Taiwan’s TS Lines.
They are expected to begin a long-term charter with PIL later in the year.
The strong rate is a result of high demand for prompt tonnage and a dearth of ships.
That is reflected in the forward market with vessels being picked off for dates stretching well into 2025.
Japan’s Ocean Network Express has booked the 6,494-teu BF Hamburg (built 2009) for a three-year charter starting next year.
The rate is $38,500 per day plus a scrubber bonus for a charter beginning in the second quarter of 2025, say brokers.
Freight markets too
Liner operators are looking to charter additional ships at a time when demand from the freight market shows no sign of easing.
The combination of an early peak season, Red Sea diversions stretching capacity and knock-on port congestion has made supply even tighter, says benchmarking portal Freightos.
That is reflected in the ongoing rise in freight rates out of Asia.
Freight rates from Asia to the US West Coast and North Europe increased to about $7,000 per 40-foot equivalent unit (feu) this week, according to the Freightos Baltic Index.
That pushed freight rates past their previous 2024 highs in January and February by 40% to 50%.
Rates from Asia to the US East Coast are above $8,000 per feu, or 20% higher than in February.
Freight rates were last at these levels during their decline from pandemic highs in mid-to-late 2022.
